Guaranteed fixed fees for Leasehold Conveyancing in Tavistock

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Tavistock, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Tavistock leasehold conveyancing

I am in need of some leasehold conveyancing in Tavistock. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Tavistock - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I own a leasehold flat in Tavistock. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Tavistock who previously acted has now retired.Do I pay?

First contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Tavistock conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold house in Tavistock. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Tavistock from the perspective of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Tavistock can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
  • Some Tavistock leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming formality and slows down many a Tavistock home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • If all goes to plan we aim to complete the sale of our £250000 garden flat in Tavistock next Friday . The management company has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Tavistock?

    Tavistock conveyancing on leasehold apartments usually involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    I bought a studio flat in Tavistock, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Tavistock with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2093

    With 69 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Tavistock